Galderma pledges $650 million to expand US manufacturing, echoing European FDI surge
Swiss skincare maker Galderma announced a commitment of more than $650 million to build U.S. manufacturing capacity by 2030, reflecting a broader wave of European foreign direct investment in America.
Galderma, the Swiss dermatology group behind brands like Cetaphil and injectable fillers, reported $5.24 billion in revenue last year, with the United States contributing 40 % and representing its fastest-growing market. To deepen its foothold, the firm disclosed a $650 million-plus investment in U.S. manufacturing through 2030, targeting sites in Boston for research, Miami for its headquarters, and Orange County for aesthetic expertise, while keeping Fort Worth as a distribution hub.
CEO Flemming Ørnskov emphasized that success in the U.S. requires proximity to talent and the ability to compete with rivals such as AbbVie’s Allergan Aesthetics, the market leader in injectables. This strategy mirrors a broader surge in European foreign direct investment, which rose by $266 billion to $5.86 trillion at the end of 2025, with manufacturing remaining the primary focus. Ørnskov acknowledged the stringent U.S. approval standards for aesthetic products but stressed the market’s importance. The expansion aims to create jobs, hedge against tariffs, and capture a larger share of the lucrative American consumer base.
Why it matters
The investment signals a major shift of European pharma into the U.S., affecting jobs, competition and market dynamics.
In this story
